British American Tobacco revenue and financials
Secondary listing. The primary listing is British American Tobacco · LSE (GBp)
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In the fiscal year ended December 2025, British American Tobacco reported revenue of £25.61B (−0.99% year over year). Net income was £7.76B, a net margin of 30.3%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- −0.99%
- 2025 vs 2024
- Net income growth
- +153.06%
- 2025 vs 2024
- Net margin
- 30.3%
- 2024: 11.9%
Financial data
Amounts in millions of GBP; per-share values in GBP; shares in millions.
| Item | Q2 2026 | Q4 2025 | Q2 2025 | Q4 2024 | Q2 2024 | Q4 2023 | Q2 2023 | Q4 2022 | Q2 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | 108,388 | 109,290 | 110,226 | 118,899 | 119,369 | 118,716 | 146,072 | 153,546 | 151,871 | 137,365 |
| Current assets | 11,923 | 12,684 | 13,875 | 14,294 | 15,872 | 14,186 | 15,092 | 15,409 | 14,709 | 12,807 |
| Cash and equivalents | 2,518 | 3,827 | 4,404 | 5,297 | 5,934 | 4,659 | 3,681 | 3,446 | 3,568 | 2,809 |
| Short-term investments | 15.0 | 16.0 | 489 | — | 696 | — | 451 | — | 571 | — |
| Receivables | 4,310 | 4,272 | 3,583 | 3,671 | 3,737 | 3,793 | 4,379 | 4,516 | 3,794 | 4,068 |
| Inventory | 4,845 | 4,382 | 5,088 | 4,616 | 5,334 | 4,938 | 5,634 | 5,671 | 5,952 | 5,279 |
| Net property, plant and equipment | 4,222 | 4,483 | 4,159 | 4,379 | 4,427 | 4,583 | 4,521 | 4,867 | 4,728 | 4,953 |
| Goodwill | — | 38,917 | — | 41,129 | — | 41,091 | — | 47,956 | — | 43,194 |
| Other intangible assets | 87,087 | 48,017 | 86,223 | 53,147 | 94,700 | 54,471 | 122,126 | 81,119 | 128,026 | 72,431 |
| Long-term investments | 1,852 | 1,854 | 2,270 | 2,048 | 2,059 | 2,088 | 2,172 | 2,141 | 2,110 | 1,998 |
| Current liabilities | 14,278 | 14,524 | 15,996 | 18,743 | 18,042 | 15,673 | 16,191 | 17,853 | 16,726 | 15,144 |
| Accounts payable | 8,576 | 1,814 | 8,243 | 1,709 | 9,017 | 1,707 | 9,217 | 1,862 | 8,823 | 3,923 |
| Long-term debt | 30,532 | 31,332 | 31,485 | 32,194 | 32,529 | 35,226 | 37,140 | 38,786 | 39,724 | 35,346 |
| Total debt | 35,063 | 35,070 | 35,208 | — | — | — | — | — | — | — |
| Total liabilities | 59,793 | 61,145 | 63,049 | 68,904 | 64,900 | 65,782 | 73,444 | 77,836 | 77,802 | 69,964 |
| Total equity (incl. minority) | 48,595 | 48,145 | 47,177 | 49,995 | 54,469 | 52,934 | 72,628 | 75,710 | 74,069 | 67,401 |
| Retained earnings | 22,809 | 27,312 | 22,994 | 26,018 | 26,025 | 31,627 | 45,591 | 51,197 | 42,558 | 49,334 |
| Minority interest | 216 | 219 | 303 | 352 | 358 | 368 | 330 | 342 | 314 | 300 |